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20120930
20121008
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Search Results 0 to 47 of about 48 (some duplicates have been removed)
a key issue the presidential campaign as the economy continues to falter. >> this country doesn't succeed when only the rich get richer. we succeed when the middle class gets bigger. >> rose: joseph stiglitz is a nobel prize winning economist. in his new book the price of inequality, how today's divided society endangers our future. he argues that a wealthy minority in this country has fed a vicious circle of growing inequality. i'm pleased to have joe stiglitz back at this table. welcome. >> nice to be here. >> rose: where do you think the american economy is today? and is it trending upwards? >> it's not really trending upward. i guess i would describe it as part of-- i call it a long slump, long malaise unless we do something. >> rose: right. >> you know there are two big gaps in our economy, relative to say 2007 before the crisis. one is real estate. real estate was the big sector, the bubble broke and now real-estate investment is half of what it was. no way that that is going to recover soon. the only good news is the houses were shodly onstructed and it may be 5 or 10 yea
are really pretty slack, and for government to withdraw support from the economy as the tories have done since 2010 has really been a recipe for a double dip recession and sure enough we have got one. >> you actually have got an interesting case study, america is a much bigger economy than the uk but our two countries were dealing with the financial crisis more or less in the same way. >> yes. >> a new government came in, not just austerity but masochism that is being -- >> by each other --. there is masochism in the uk with respect to the economic, a collector austerity around europe which is related, a separate point. >> the uk laboratory has been used to test the thesis that by contracting government spending you presto expand private enterprise. it hasn't worked and that way we ended up with a simple national -- >> why is that? >> because the private sector is not spending, sitting on 750 billion pounds of cash and not investing, consumers have their wits frightened out of them, export markets are slack, prto, if all of the indicators are point manager the wrong direction you have n
globalizations as an opportunity. they want an open society, an open economy, a society where you tolerate and respect people, a different faiths and cultures and then the closed minded who really have a view that if you don't accept my view then are you an alien or an enemy. i think that is the battle that is going on and in the end, i think it's important always, and i always say this to people in america to realize-- realize that for all the pictures of extremist that you see in people burning the american flag and protesting and so on, you also then have a lot of people who wanted same type of society and free society that we want. >> rose: has the is palestinian-israeli situation gotten off the front burner for too long and you can bring it back? >> well, it's a good question. not for the people out in the region, by the way. >> rose: it has not gotten off the front burner. >> no, i still believe that it's central to the future of the region. look, i have just come back from my last-- it was my 88th visit there. my wife said to me it is not actually the number of visits you made, it's
the mid-'90s, it was a disaster in the economy of russia. >> rose: you were a financial expert. >> and you know like it was the station where, like different companies in the cities they were on the verge of dying. >> rose: right. >> and we were young, ambitious, risky and we were not afraid of nothing. so we bought a very bad enterprise. >> rose: you made a big bet? >> yes, because at the time we did our best in order to find partners abroad. nobody came because it was too risky. we spent a lot of money, we spent a lot of hours, two and three hours a day, now we can show that this, for example, entity are one of the most profitable entities in the field production of nickel and platinum and palladium. but it was risky at the time because we have debt, more than one year to know the company. can't imagine this. and in the far north people they have no opportunity to receive salary for more than a half year. it was like really a disaster. it was a great disaster. and really we're very proud. >> rose: with so much at stake it all together was not necessarily safe, either. >> it wasn't safe a
was asked, would you take $10 of spending cuts for just $1 of revenue. economy said no. >> i have my own plans. it's not the same as simpson-bowles but in my view the president should have grabbed it. if he wanted tomake adjusents to it, go to congress and fight for it. >> that's what we've done, made adjustments to it and putting it before congress right now. >> you've been president four years. you said you'd cut the deficit in half it's now four years later we still have trillion dollar deaf surkts the ceo says we'll have a trill un-- trillin dollar debt. >> govern romney wants to repeal dodd-frank and i pressure we've got some agreement that a marketplace to work has to have some regulation. in the past govern romney says he just wants to repeal dodd-frank, roll it back. so the question is, does anybody out there think that the big problem we had is that there was too much oversight in regulation of wall street. because if you do, then governor romney is your candidate. >> that's not the facts. look we have to have regulation on wall street. that's why i have regulation but i wouldn
the economy is getting better because they already felt they made the decision so they had to say yes things are getting better and i have to tell you i don't think that is true. i think that there is enough in the middle to change their minds now. and i do belief that people are looking for a new path. i used the example of a wagon train going over a tough mountain in the back of the old days of the west and we are trudging up the side of the mountain economically and not really making much progress, with her the mud and winter is coming and the guy come along and i know a path, i know a pass wwe can go through, i have been through there and know this territory and i live out, there follow me, and the only thing missing now to that for us to follow that guy romney for him to lay out a map, he doesn't done that yet. if he says this is how we will do it, is cut these deductions and name them for you and we will do this and going to get that tax cut and encourage small business and we are going to have a real reagan round of reagan activity, the public may say yes, i don't think he is there
Search Results 0 to 47 of about 48 (some duplicates have been removed)